Press Release
Sportradar (Nasdaq: SRAD) is going to shock analysts in Q2 off the back of UEFA EURO 2024, ATP and Cricket: $22.91 Price Target!
By Gerry Rodriguez
Sportradar (Nasdaq: SRAD) is set for a strong Q2, fueled by major sporting events like UEFA EURO 2024 and the ATP, with expected revenue surpassing Q1’s €266 million. The company’s innovative products, revenue share model, and key hires in technology are driving growth, leading analysts to project a target stock price of $22.91, well above the current $11.07. Sportradar is poised for long-term success in the expanding sports betting market.
Key Insights
- Increased interest and solid margins across EURO 2024 and Indian Premier League key to underestimated profits for SRAD with their revenue share model
- Huge volume of ATP matches and new products to power revenues versus 2023
- Robust business model to take advantage of tailwinds in Brazil
- Two key hires are expected to have immediate impact
- DCF model shows $22.91 target stock price vs. current $11.07
Revenue Soaring
Every shareholder of large bookmakers such as DraftKings (Nasdaq: DKNG) knows to look out for seasonal revenues relating to the Superbowl or Stanley Cup Finals. But SRAD – which delivered €266m 2024 Q1 revenues and “Betting Technology & Solutions” 2024 Q1 revenue of €219m – is in fact tied to the growth of sports betting globally.
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
There was very encouraging news for investors in Q1 with 28% YoY growth across the business and an eye-opening 35% YoY increase for the Betting Technology & Solutions vertical. This is somewhat close to DKNG’s 53% as per their Q1 2024 earnings. The latter is able to increase off the back of expensive customer acquisition and marketing which led to a repeated net loss in Q1 of $143m. This is in stark comparison to SRAD’s 19% Adjusted EBITDA margin and a 2023 net profit margin of 3% or €7m, and €275 million cash and cash equivalents / €220 million undrawn credit facility, compared to €460 million in Q1 2023.
Having established Q1 was a rip-roaring success, what is expected in Q2?
Revenue in the second quarter of 2023 increased 22% to €216.4 million compared with the second quarter of 2022 and above Q1’s figure of €208m. Therefore, we can expect 2024’s Q2 to be slightly higher than Q1’s €266m. But, there are a number of sporting events which could drive these revenues higher:
- EURO 2024 – Darren Small, SVP of Managed Trading Services said the following in an interview after the tournament finished:
“Overall, the tournament was good for us. We saw a very low-scoring tournament, particularly from some of the most favoured teams. I don’t even think France managed to average a whole goal out of the games. I think they averaged around 0.67 goals a game. The same thing with Cristiano Ronaldo not scoring many goals in open play. In fact, from a betting perspective, they probably were the two of the heaviest-backed teams and individual top goal scorers in the competition.”
These figures may not have been taken into account by investors as SRAD’s Managed Trading Services are overlooked in favour of their traditional subscription service data products.
- Indian Premier League (cricket) & Cricket World Cup – there is reason to believe SRAD over-performed versus expectations.
LinkedIn: Link
In addition to the Indian Premier League, the Cricket World Cup featured an exciting contest and whilst favourites India prevailed, there is sure to have been betting profits made.
- ATP – SRAD’s jewel in the crown is going to bring new revenue versus 2023, having won the rights from competitor IMG Arena late last year. What’s even more encouraging is the products which have been built to complement the comprehensive betting coverage. In March 2024, SRAD launched 4Sight. According to SRAD:
“In essence, the technology overlays ultra-fast data into live streams, delivering a continuous flow of engaging statistics that appear in real time, from serve speed and ball bounces, to total shots in each rally.”
- WNBA – and what about superstar Caitlin Clark, driving incremental revenues via SRAD’s NBA partnership? How could we forget this 10 year partnership and even embedding betting solutions within NBA’s League Pass.
With Q2 revenues likely secured off the back of significant rights deals and good performance in marquee tournaments, let us turn our attention to personnel.
Wise Heads
In May, SRAD announced two significant additions to its roster – CFO Craig Felenstein and Chief Technology and Artificial Intelligence Office Behshad Behzadi.
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
These hires signal both a maturity and an investment in the future. Both are expected to create immediate value in terms of SRAD’s business model and galvanising the company to think BIG.
This comes off the back of restructuring in January:
“By centralizing our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business,” Sportradar CEO Carsten Koerl said in a statement. “These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us.”
With SRAD relying on both its People, sporting tailwinds, its technology and a nod to AI, the future is certainly bright.
DCF Model
Based on all available information, we are able to build a DCF model, reflecting the historical and continued growth in revenue and EBITDA for SRAD.
SRAD DCF model – EPS by analyst DC
SRAD DCF model – stock price output by analyst DC
For Sportradar, net margins are rising quickly from a low point and could benefit from a number of factors, not least of which is the current summer’s schedule of important sporting events. Given the rapid expansion of the US betting market, the firm is especially well-positioned to take a larger portion of this market. Sportradar’s leading position in the rapidly expanding sports betting business makes us think that the management team’s expectations of double-digit revenue CAGR through the end of the decade—driven by market expansion, new markets, new products, and improved product penetration—are realistic. In addition, we think that when Sportradar grows in the US, EBITDA margins will probably rise from 20% to 25%.
All things considered, we think Sportradar provides investors with long-term exposure to the quickly expanding sports betting market with a pure-play potential through a successful B2B operating model that is mostly subscription-based (around 76% of revenue). With a 20% two-year adjusted EBITDA CAGR, a robust balance sheet (with $240 million in cash versus debt and 98% equity as a percentage of total capital), $200 million in planned share repurchases for 2024, increased operating leverage in subsequent years, and a fair valuation in light of its growth prospects and comparable companies, the company has one of the strongest growth profiles in its industry.
Conclusion
We have a stock that is undervalued and misunderstood. We predict a lucrative Q2 driven by SRAD’s betting revenue share sales model, restructuring of the business in Q1 and a very resistant business with a significant moat for future years.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
The 2024 Chery Group Automotive Design Competition Concludes Successfully: A Journey Bridging Design and the Future
November 4, 2024, the Chery Global Design Center in Wuhu hosted the award ceremony for the 2024 Chery Group Automotive Design Competition. This grand event not only brought together top automotive design talents from around the world but also became a focal point for design enthusiasts, industry experts, and media professionals. As the competition’s exclusive partner, OPSH（OnePen ShangHai)was fully involved, witnessing this remarkable celebration of technology, art, and futuristic imagination.
As Chery Group’s first-ever global automotive design competition, this event attracted worldwide attention with its high level of internationalization and openness. Within just a month, through campus roadshows at universities both domestically and internationally, along with OPSH（OnePen ShangHai)-hosted offline engagement activities, the competition drew over 300 participants from 22 countries, with international students accounting for 50% of the contestants. Spanning Asia, Europe, North America, and Australia, the competition featured participants from 11 prestigious design schools, including China Academy of Art, Luxun Academy of Fine Arts, Hubei Institute of Fine Arts, Tongji University, Chung-Ang University, Yeungnam University, Coventry University, Kyonggi University, and others. This comprehensive participation highlighted the global reach of the event, fostering dialogue among cultures through design and showcasing the diversity and innovation of future mobility.
On the day of the award ceremony, the Chery Global Design Center was transformed into a space where art and technology converged. The unveiling of concept cars and high-fidelity scale models presented a visual feast that combined design aesthetics with technological prowess. The event showcased not only the winning entries but also offered interactive sessions for media and audiences to experience the unique charm of each creation, from design concepts to tangible outputs.
“These entries are more than just sketches or models—they are profound reflections on the future of mobility,” remarked the head of the Chery Automotive Design Center during the ceremony. “From supercars to lunar rovers, flying vehicles to micro-electric cars, each work demonstrates how designers break boundaries with creativity, ingeniously merging technology, aesthetics, and human needs.”
Among the many exceptional submissions, the innovative ideas from rising global design stars stood out. Highlights of the winning entries include:
First Prize:
– Sungjun Park / Chung-Ang University
Second Prize:
– Liu Haoyang/ China Academy of Art
– Junwan Woo/ Yeungnam University
Third Prize:
– Feng Yongqi/ Hubei Institute of Fine Arts
– Hu Zhanpeng/ Tongji University
– Liu Yunfeng/ Luxun Academy of Fine Arts
Excellent Design Awards:
– Joongha Min/ Coventry University
– Yongkyun Lee/ Kyonggi University
In addition, during the 2024 Guangzhou International Auto Show, several of these award-winning models were displayed at the Chery Group booth in Hall 4.2, offering visitors an up-close view of the cutting-edge concepts and inspiring future possibilities.
The 2024 Chery Group Automotive Design Competition was not only a platform to showcase creativity but also an important catalyst for industry inspiration. The participation of students from 11 top universities, spanning China and the world, such as the Central Academy of Fine Arts, Nanjing University of the Arts, and the Royal College of Art, added tremendous value to the competition. From its international lineup of participants to designs that embraced future technologies and sustainability, Chery conveyed its profound understanding and boundless imagination for future mobility through this competition. “This is not just a competition; it’s a starting point,” summarized a Chery Group representative. “We hope to inspire more young talents to bring their dreams and creativity to automotive design, providing breakthrough solutions for the future of transportation.”
Amid applause and cheers, the competition concluded successfully. Yet, this is not the end—it is an invitation to the future. Chery Group plans to expand the competition’s scale, welcoming more emerging design talents from around the globe to this innovative stage. Chery eagerly anticipates another year of vibrant and diverse design works, painting a richer picture for the future of automotive design.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Unveiling the Ultimate Nile Cruise Experience
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A luxury Nile cruise is more than just a vacation; it’s a cultural immersion. With our team of seasoned Egyptologists, every excursion transforms into an enlightening adventure. Whether you’re marveling at the Great Temples of Luxor, exploring the Valley of the Kings, or strolling through the awe-inspiring Karnak Temple, our experts bring the ancient sites to life with extensive knowledge and engaging storytelling.
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At Nile Cruise Ship, we understand that no two travelers are alike. That’s why we offer tailored excursions as part of our carefully designed Nile cruise packages. Whether you’re a history enthusiast eager to delve into Egypt’s fascinating past or a leisure traveler seeking relaxation by the riverbank, we craft itineraries that match your interests.
Why Choose Nile Cruise Ship?
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Dive into the Nile Cruise Blog
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Media Contact:
Nile Cruise Ship
Website: https://nilecruiseship.com
Phone: +20 2 23504930
Email: booking@nilecruiseship.com
Address: 81 Abu Daoud, el Zahery, Nasr City, Cairo Governorate 11856,
Egypt
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Santa Coin Ushers in the 2024 Yuletide Season with Festive Promotions and a Legacy of Generosity
Santa Coin, the festive-themed cryptocurrency renowned for its spirit of giving, is delighted to announce a series of engaging promotional activities for the 2024 holiday season. Since its inception in October 2021, Santa Coin has distributed over $5 million in rewards to its holders, solidifying its position as a leader in merging generosity with innovation in the cryptocurrency space.
A Legacy of Festive Generosity
Launched in October 2021, Santa Coin was conceived to infuse the holiday spirit into the digital currency realm. Over the past three years, it has built a robust community of enthusiasts and has rewarded its holders with over $5 million, exemplifying its commitment to generosity and community engagement.
Innovative Features
Santa Coin distinguishes itself with several unique features:
• SantaGPT: An AI-driven tool that generates festive content and provides market insights, enhancing user engagement and information dissemination. • AI-Powered Image Generator: Allows users to create captivating memes and graphics, fostering creativity within the community.
• Commitment to Sustainability and Philanthropy: A portion of Santa Coin’s tokenomics is dedicated to supporting charitable organizations and environmental initiatives, reflecting its dedication to positive global impact. •
2024 Yuletide Promotions
In celebration of the upcoming holiday season, Santa Coin is launching a series of initiatives to engage its community and attract new enthusiasts:
1. Widespread Press Coverage: Collaborations with major cryptocurrency news platforms to highlight Santa Coin’s unique features, ongoing developments, and holiday campaigns, ensuring prominent visibility during the festive period.
2. Community Engagement Through Social Media: Activation of raiding teams to invigorate discussions on platforms like X (formerly Twitter) and Telegram, sharing updates, addressing inquiries, and nurturing a vibrant community spirit.
3. Premium Advertising Placements: Securing strategic visibility through premium ad placements on the Moralis Crypto Ads Marketplace, ensuring prominent exposure to a broader audience of crypto enthusiasts.
4. Trading Competition with a $10,000 Prize Pool: Hosting a trading competition with a generous $10,000 USDT prize pool, offering participants the opportunity to showcase their trading skills and earn substantial rewards.
5. Holiday Meme Contest Offering $5,000 in Prizes: Organizing a Christmas themed meme contest with a total prize pool of $5,000, encouraging community creativity and the spread of festive joy.
Through these initiatives, Santa Coin continues to embody its core mission of giving back while fostering unity among its global community. The 2024 yuletide season promises to be the most vibrant yet for Santa Coin supporters.
About Santa Coin
Santa Coin is a festive-themed cryptocurrency that integrates the joy of the holiday season with innovative blockchain technology. With features like SantaGPT and a commitment to philanthropy, Santa Coin offers a unique and rewarding experience for its holders.
For more information about Santa Coin and its holiday promotions, please visit the official website at https://santacoin.io/.
Follow Santa Coin on Social Media:
• Website: https://santacoin.io/
• SantaGPT: https://santagpt.ai/
• Twitter: https://twitter.com/Santa_Coins
• Telegram Group: https://t.me/santacoingroup
• Telegram Channel: https://t.me/santanewsofficial
• Medium: https://medium.com/@santa.coin
Media Contact:
Crypto Santa, Lead Developer
Contact Information: Telegram – @crypto_santa001
Disclaimer: This press release is for informational purposes only. Cryptocurrency investments carry risk; please conduct thorough research before participating.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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